{"id":1004638554,"date":"2023-01-10T06:04:55","date_gmt":"2023-01-10T14:04:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004638554"},"modified":"2023-01-10T06:04:57","modified_gmt":"2023-01-10T14:04:57","slug":"big-sky-medical-enters-new-texas-market","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/big-sky-medical-enters-new-texas-market\/","title":{"rendered":"Big Sky Medical Enters New Texas Market"},"content":{"rendered":"
\"\"<\/a>

Texas Tech Physicians of El Paso at Transmountain. Image courtesy of Big Sky Medical<\/p><\/div>\n

Big Sky Medical<\/strong> has acquired Texas Tech Physicians of El Paso at Transmountain, a 110,465-rentable-square-foot medical office building in El Paso, Texas. Healthcare Realty Trust<\/strong> sold the asset, and the facility also became subject to a $36 million loan set to mature in 2025, according to El Paso County records. The property was previously subject to a $33 million loan issued in 2019 and provided by WestStar Bank, CommercialEdge data shows.<\/p>\n

The four-story Class A facility completed in 2016 sits on 4.7 acres. The property features three passenger elevators, controlled access and offers 600 parking spaces. Medical services offered include a wide array of specialties, ranging from family medicine to surgical treatments. The property is anchored by Texas Tech Health, while the rest of the space is occupied by BHS Physicians and Tenet Healthcare, which holds a 65-year unsubordinated net ground lease, expiring in 2080, according to CommercialEdge information.<\/p>\n

The property is located at 2000 Transmountain Road, within the Hospitals of Providence-Transmountain campus, 14.5 miles from downtown El Paso. Other medical facilities in the area include University Medical Center of El Paso \u2013 West, Children\u2019s Pediatric Practice and Providence Medical Partners \u2013 Resler, among others.<\/p>\n

Big Sky Medical’s Texas presence<\/h2>\n

The current acquisition marks the company\u2019s entry in the El Paso health care sector. Currently, the market has an inventory of 120 medical office buildings, a total of approximately 6.3 million square feet, CommercialEdge data shows.<\/p>\n

The company has been expanding its Texas footprint recently, including several acquisitions last year. Through a $190 million loan provided by Capital One, Big Sky Medical purchased Westinghouse Building at Providence Park<\/a>, a 175,725-square-foot facility in College Station, Texas, in November 2022. On that same day, the company closed on another asset, Greenpark One<\/a>, a 134.910-square-foot medical office building in Houston, marking it as its second investment in the Houston market. Later in the month, the firm acquired, through the same fund, a 122,942-square-foot facility<\/a> within the Texas A&M Health Science Center campus in Bryan, Texas.<\/p>\n

New directions for the company<\/h2>\n

Last week, it was announced that Bahrain-based GFH Financial Group purchased a majority stake<\/a> in Big Sky Asset Management. Big Sky will continue to own the company alongside GFH. In a prepared statement, Nael Mustafa, co-chief investment office at GFH, said that the company has already acquired two medical office portfolios through a joint venture valued at more than $800 million. Back in April, Newmark facilitated the formation of the partnership<\/a>.<\/p>\n

Up until now, Big Sky was focused on markets in the Southwest, Southeast, Midwest and Mid-Atlantic. A new strategy is taking shape in 2023, as the company recently made its first expansion into the far West, with the acquisition of Valley Orthopaedics, a medical office building located in Modesto, Calif., 90 miles east of San Francisco.<\/p>\n","protected":false},"excerpt":{"rendered":"

This is the company’s first medical office in El Paso.<\/p>\n","protected":false},"author":2829,"featured_media":1004638556,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,21754,21742],"tags":[51782,36666],"class_list":["post-1004638554","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-medical-office","category-latest","tag-big-sky-medical","tag-healthcare-realty-trust-inc"],"acf":[],"yoast_head":"\nBig Sky Medical Enters New Texas Market - CPE<\/title>\n<meta name=\"description\" content=\"Big Sky Medical made its first acquisition of a medical office building in El Paso, Texas, a Class A, 110,465-rentable-square-foot facility.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/big-sky-medical-enters-new-texas-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Big Sky Medical Enters New Texas Market\" \/>\n<meta property=\"og:description\" content=\"Big Sky Medical made its first acquisition of a medical office building in El Paso, Texas, a Class A, 110,465-rentable-square-foot facility.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/big-sky-medical-enters-new-texas-market\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-01-10T14:04:55+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-10T14:04:57+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Transactions-BigSky-TexasTechPhysiciansofElPasoTX-768x397-1-e1673254423649.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"529\" \/>\n\t<meta property=\"og:image:height\" content=\"397\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/big-sky-medical-enters-new-texas-market\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/big-sky-medical-enters-new-texas-market\/\",\"name\":\"Big Sky Medical Enters New Texas Market - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/big-sky-medical-enters-new-texas-market\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/big-sky-medical-enters-new-texas-market\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Transactions-BigSky-TexasTechPhysiciansofElPasoTX-768x397-1-e1673254423649.jpg\",\"datePublished\":\"2023-01-10T14:04:55+00:00\",\"dateModified\":\"2023-01-10T14:04:57+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a\"},\"description\":\"Big Sky Medical made its first acquisition of a medical office building in El Paso, Texas, a Class A, 110,465-rentable-square-foot facility.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/big-sky-medical-enters-new-texas-market\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/big-sky-medical-enters-new-texas-market\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/big-sky-medical-enters-new-texas-market\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Transactions-BigSky-TexasTechPhysiciansofElPasoTX-768x397-1-e1673254423649.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Transactions-BigSky-TexasTechPhysiciansofElPasoTX-768x397-1-e1673254423649.jpg\",\"width\":529,\"height\":397,\"caption\":\"Texas Tech Physicians of El Paso at Transmountain. 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